Difference between Personal loans vs credit card loans

1
Difference between Personal loans vs. credit card
loans
2

• Affordable

• In terms of affordability, an online personal
  loan will always win. It is affordable because
  the rate of interest is low and other charges are
  minimal. However, for a credit card, the rate of
  interest is very high, along with other charges
  like late payment, due charges, card charges, and
  consolidated charges.
• If you sum up the amount, the credit card is the
  most expensive form of loan. It is not a safe
  idea to use multiple credit cards.

3

• Arrange fund

• The dependence on loans is high because you are
  in a financial crisis. Now that you have got a
  rejection, the chances of getting funds from
  banks and financial institutions are impossible.
  Do not keep applying for multiple loan options
  and hurt your credit eligibility more. Instead,
  find out other ways to obtain funds to meet your
  emergencies.
• An emergency can not be delayed or postponed.
  Find out ways to obtain enough money to find a
  solution and make things better for the time
  being. When one door closes, other doors open, so
  you need to make use of this quote that everyone
  believes. There will be something or someone
  willing to help. You can try out your
  investments. Investments are done to secure the
  future and this is the best time to use them.

4

• Usage

• A credit card can be used for small and petty
  expenses. It is not meant for large expenses like
  a wedding, medical emergency, home renovation,
  car repair, and various other needs. A credit
  card is always good for quick and small purchases
  like a mobile phone, gadgets, laptops, clothing,
  or accessories. On the other hand, an online
  personal loan is meant for any type of expense.
• It is good for small as well as expensive
  expenses like medical emergencies, weddings,
  travelling, or home renovation. The sanctioned
  loan amount will completely depend upon the
  eligibility of the borrower. If you have a good
  credit score and an income, you can easily get a
  good amount of loan.

5

• Disbursement

• A credit card comes with a pre-approved loan
  amount or credit limit. This credit limit can be
  used again and again after paying the bills for
  the credit utilized.
• On the other hand, a personal loan is a one-time
  disbursement of a lump sum amount and then one
  has to keep paying the EMI to repay the entire
  loan. An instant personal loan can be taken again
  only when the existing loan balance is zero.

6

• Apply Personal Loan in Chennai

• A personal loan is the best option if you need
  funds for an urgent need or a short period. It
  can be availed for any purpose. Apply for
  personal loan in Chennai online on Clix Capital
  by just filling a few personal details.
• A personal loan is easy to have from the various
  rising banks, NBFC, and other digital
  loan-providing agencies. Get personal loan online
  amount within 24 hours in your bank account at
  Clix.

7
Thank You
For more information please contact
Clix Capital Services Private Limited Email
hello_at_clix.capital Mobile [phone]